Six years after the pandemic pushed heavily leveraged companies into distress, some of the lenders that took control are beginning to cash out.
Tailored Brands, owner of clothing chain Men's Wearhouse, filed on July 10 to return to the public markets. Credit investor Silver Point Capital, which has owned the business since its 2020 restructuring, will remain the principal shareholder.
Strategic Value Partners and Sixth Street Partners sold $743 million of LATAM Airlines stock in a secondary equity offering in February, winding down a stake they inherited through the bankruptcy of Latin America's largest airline holding company in 2022.
Aeroméxico, whose largest creditor was Apollo Global Management, has traded in New York since November. The listing raised $223 million and came three years after Mexico's flagship carrier embarked on a $5 billion post-bankruptcy fleet modernization plan.
With defaults and bankruptcies edging up once more, these are useful case studies of what happens when lenders take the keys to a company. But many private credit managers appear already to have learned their lessons, according to bankruptcy experts.
#partners #million #largest #tailored
Tailored Brands, owner of clothing chain Men's Wearhouse, filed on July 10 to return to the public markets. Credit investor Silver Point Capital, which has owned the business since its 2020 restructuring, will remain the principal shareholder.
Strategic Value Partners and Sixth Street Partners sold $743 million of LATAM Airlines stock in a secondary equity offering in February, winding down a stake they inherited through the bankruptcy of Latin America's largest airline holding company in 2022.
Aeroméxico, whose largest creditor was Apollo Global Management, has traded in New York since November. The listing raised $223 million and came three years after Mexico's flagship carrier embarked on a $5 billion post-bankruptcy fleet modernization plan.
With defaults and bankruptcies edging up once more, these are useful case studies of what happens when lenders take the keys to a company. But many private credit managers appear already to have learned their lessons, according to bankruptcy experts.
#partners #million #largest #tailored
5 days ago
